Vanguard Group Inc. Increases Stock Position in Royal Bank Of Canada $RY

Vanguard Group Inc. grew its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,008,684 shares of the financial services provider’s stock after buying an additional 2,437,164 shares during the period. Vanguard Group Inc.’s holdings in Royal Bank Of Canada were worth $8,567,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RY. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 1st quarter valued at about $32,000. Roxbury Financial LLC grew its holdings in Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in shares of Royal Bank Of Canada by 2,170.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 434 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 98 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in shares of Royal Bank Of Canada during the first quarter valued at approximately $59,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

RY stock opened at $149.09 on Wednesday. The stock’s 50 day simple moving average is $146.50 and its 200 day simple moving average is $136.69. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.44. The stock has a market capitalization of $209.26 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. During the same quarter last year, the company earned $3.26 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RY has been the topic of several recent research reports. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.